The Importance of Hiring HOA Management Services
Protecting one’s home investment is only natural for homeowners. A homeowners’ association or HOA is born out of the desire of each owner in a particular community to protect their own interests. Making decisions in caring and managing the community, setting and enforcing community standards, and maintaining shared areas of the community are the main functions of this association. Every HOA elects a board of leaders to undertake the functions and to speak on behalf of the rest of the community. Services like landscaping and trash collection are provided by the HOA board using the funds that the association has collected as dues from their members. Sometimes, however, these board members lack the expertise in management, so they outsource or hire an HOA management company to help the HOA manage its community. Below are some of the benefits of hiring HOA management services.
One of the key benefits of having HOA management services is that they make the community more attractive to home buyers. A well maintained community can attract more buyers and command higher prices from them. A well maintained community will not only attract more buyers but these buyers are also better residents; the value of the homes of current residents will also be increased because of this.
Another key benefit of hiring HOA management services is that they are better in collecting dues. It is the residents” dues that help the community run properly and so this is critical for the HOA. Many HOA board members find it difficult to collect dues especially from delinquent payers since it will take a lot of their time in doing so. This is also something that can break relationships in the community. If it is the HOA management services collecting the dues, then there is no personal relationship to speak of the can delay payment. HOA management can increase dues collection rate by going after delinquent payers and working with residents to come up with a payment plan when debt is hard to overcome. There will be more improvements seem in the community, the more dues are collected by HOA management.
Another reason to hire HOA management services is the legal assistance that they provide. If the HOA finds itself in a lawsuit, it could mean huge costs for the association. Cases including improper screening, paid HOA services that were not performed, injuries suffered in common areas, property inspections, and eviction. Most HOA management services have lawyers who are knowledgeable when it comes to local, state, and federal laws. They don’t charge extra costs to provide legal representation and counseling.
There are just some of the benefits of Hiring HOA management services.